BNP Paribas is the European Union’s leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.
Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody network in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.
Company purpose:
Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.
Our employer promise is built around three pillars:
• Being a great place to work
• Committed to sustainability and having a positive impact
• Being dedicated to the development of our people
Business area
The UK Fund Services department is a high profile business area in the United Kingdom comprising of the following key operational areas:
• Fund Accounting – Investment & Fund Services operations
• Fund Accounting – Private Capital
• Investment Analytics & Data Services
• Corporate Trust Operations – Loan & debt solutions
Private capital fund accounting within the fund accounting private capital team act as the guardians of all private capital funds owning delivery of fund valuation and accounting services ensuring that they are fully compliant with fund documentation, client SLA’s, legal and regulatory requirements
Job purpose
To work as part of the Fund Accounting team providing fund valuation and accounting services to Private Capital funds and underlying private capital fund vehicles ensuring that they are fully compliant with fund documentation, legal, regulatory requirements and accounting standards to which they are subject.
Ensuring that the provision of fund accounting services are aligned with the client SLA’s, all internal and external deadlines are understood and met and all operational policies, procedures and checklists are followed.
Key responsibilities
People Management
• Day to day management of a team of Senior Fund Accountants and Fund Accountants within the Private Capital team
• Coach, develop and train staff to maximise performance
• Succession planning
• Conduct interim and annual appraisals
• Absence and poor performance management
• Manage high performance and provide career support to team members
• Ensure adherence to HR policies and guidelines by the team
• Adhere to UK management charter
• Ensure compliance with all relevant internal processes, procedures and controls when discharging your Fund Accounting duties, using the appropriate system or platform in order to do so
• Provide input in relation to the review and monitoring of existing business process, procedures and checklists to maximise efficiency and productivity in the Private Capital Team
• Execute group project opportunities relating to the implementation of new systems or platforms and the appropriate operational procedures.
Operational Excellence
• Responsible for ensuring all client KPI’s and service delivery commitments are being met.
• To plan, co-ordinate and manage the day to day client service delivery in accordance with agreed service level agreements, stated key performance indicators and regulatory requirements
• Provide input to the drafting of Service Level Agreements when onboarding new business, whilst also assisting with the required BAU related activities
• Assist with the review of relevant fund documentation and agreeing reporting templates with the client when on-boarding new business
• To take ownership for review and sign-off of team deliverables including:
- Prepare, review and analyse the monthly, quarterly, bi-annual and annual Financial Statements with supporting documentation under various accounting standards (i.e. IFRS, UK GAAP & US GAAP)
- Prepare and/or review monthly valuations, reconciliations of fund draw downs and distributions, accruals, expenses etc.
- Review double entry bookkeeping in the accounting system
- Assist in the review of cash reconciliation and management for the Funds
- Prepare and/or review drawdown, equalisation and distribution calculations in accordance with the Fund documentation
- Prepare and/or review Fund investor capital statements as required
- Work with the Investor Relations and Fund Administration teams to ensure the timely and accurate release of investor reporting
- Prepare and/or Fund and investor IRR calculation as required
• Attend client and audit meetings as required in relation to the provision of Financial Statements to investors
• Liaise with various external and internal parties (e.g. client, external auditor, other BNP offices etc) in the day to day accounting of the Fund and other custom reporting and projects for specific investor needs
• Liaise with internal and external auditors and assist with the year end/interim audit process via a monitored timetable and audit requirement list.
• Manage any ad-hoc projects as agreed with your Manager
• Assist manager in ensuring client and internal change is implemented with no detrimental impact to client service delivery
• Ensure all processes are adequately documented within procedures and maintained
• Act as delegate to Manager during period of absence
Client Focus
• Support your Manager in maintaining a high degree of client contact, assisting in ensuring that timely solutions are provided to all client queries
• Work closely with your client counterparts with a partnership approach to service delivery
• Support your Manager in coordinating client requirements according to priority and arrangements held within the SLA, liaising with the client (where appropriate) to manage expectations and ensure consistent and excellent service delivery
Risk and Control
• Work with Manager to continually assess team processes to improve efficiency, control and to reduce risk
• Completion of timely and accurate error reporting and implementation of preventative actions
• Ensure all significant activities are documented within procedures, kept up-to-date and recorded on the procedure database
• Ownership of team skills matrix and training requirements
• Assist manager in team recruitment
• Embed procedural knowledge within the team
• Ensure all checklists clearly document controls, kept up-to-date and standardised across the department where possible
• Ensure such controls are adhered to by the team
• Timely escalation of issues to Manager
• Corrective and preventative action if deadlines / quality standards are at risk
• Provision of timely service delivery management information
• Demonstrate efficiency improvement and report monthly on these to Manager
• Maintaining training and continuing competency (T&C) for self and assist the manager in the review and sign-off for other applicable team members
Requirements
Essential:
• Excellent working knowledge of fund accounting practices and standards, ideally including IFRS, UK GAAP and US GAAP
• Experience within the finance industry with knowledge of accounts preparation ad valuation of equity and debt instruments
• A recognised accountancy qualification (e.g. ACCA/ACA), or able to demonstrate competency through experience
• IOC or equivalent professional qualification– If not already completed would be expected to study towards.
• People management skills and experience
• Excellent planning and organisation skills
• Excellent communication and interpersonal skills and able to deal with various parties both internal and external
• Mentoring and coaching skills
• Delegation skills
• Solid numerical skills and accounting knowledge
• Good problem solving skills with an excellent awareness of commercial and risk management based client solutions
• Computer literacy including Excel skills
• Being responsible, reliable and accountable
Desirable:
• Understanding of wider Private Capital industry standards and regulations
• Experience of working to tight deadlines and capable of working independently
• Ability to work under pressure to meet client deadlines
A bit more about why you should join us
1. We’re a great place to work
We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile)
We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:
• Generous holiday allowance of at least 26 days (plus bank holidays) – with option to buy and sell holidays.
• Valuable financial plans – a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.
• Extensive wellbeing and mental health offering – one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.
• Key onsite services and facilities in Scotland – include free monthly massage and yoga, mental health first aiders and seasonal flu vouchers.
• Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.
* Subject to relevant caps
2. As the eurozone’s largest bank, we are committed to having a positive impact in the world.
For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.
But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year - in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.
3. We believe in our people
We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.
We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.
Investing in our people also means we have a collaborative and inclusive culture:
• Direct feedback from our people shows that our internal culture sets us apart from our industry peers.
• Each year, nearly 30,000 employees globally are involved in professional networks that play an active role in promoting Diversity and Inclusion within the Group. These include our:
Pride Network, Ability Network (which supports disabled employees), MixCity (gender equality network), Women in Global Markets, Women in Global Banking, Women in IT, Diversity Equity & Inclusion in Technology, Early Careers Network, Multicultural Network and Parents & Carers Network.
Equal opportunities
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation, or any other legally protected status.
Adjustments
We don’t want anyone to be disadvantaged in our recruitment processes, so if you have a disability or health condition which may mean that you’d benefit from some adjustments or additional support, please let us know as early in the process as possible.
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